Smart Voter Your Ballot & Poll Place On Propositions Ballot Measure Analysis Pros & Cons Prop 1A Prop 65 Prop 59 Prop 66 Prop 60 Prop 67 Prop 60A Prop 68 Prop 61 Prop 69 Prop 62 Prop 70 Prop 63 Prop 71 Prop 64 Prop 72 PDF In Depth Prop 1A Prop 65 Prop 59 Prop 66 Prop 60 Prop 67 Prop 60A Prop 68 Prop 61 Prop 69 Prop 62 Prop 70 Prop 63 Prop 71 Prop 64 Prop 72 About Ballot Measures Background How to Evaluate State Bond Debt The Initiative Process Other Absentee Voting Register to Vote

SURPLUS PROPERTY.
Legislative Constitutional Amendment

THE QUESTION

Should the proceeds from the sale of surplus state property be used to pay off the Economic Recovery Bonds approved in March 2004?

THE SITUATION

Currently, when the state sells surplus property, the proceeds are usually deposited in the state’s General Fund and are available for expenditure on any state program.

THE PROPOSAL

This measure requires that the proceeds from the sale of surplus state property be used to repay the Proposition 57 bond debt. Once these bonds are repaid, proceeds from surplus property sales would again be deposited in the state’s General Fund.

FISCAL EFFECT

Because the interest payments on the Proposition 57 bonds would be reduced over time if surplus state property is sold, the savings could be in the low tens of millions of dollars.

WHAT A YES OR NO VOTE MEANS

A YES vote means that the proceeds from the sale of state surplus property would be dedicated to repaying the Proposition 57 bond debt.

A NO vote means that the proceeds from the sale of state surplus property would continue to go into the General Fund.

SUPPORTERS SAY

• Proposition 60A reduces the cost of bonds approved in March 2004 as part of the governor’s plan to ease the state’s budget crisis.

OPPONENTS SAY

• Proposition 60A fails to require the state to sell its surplus property.

For more information:

Supporters: No contact information available

Opponents: No contact information available

Send comments concerning the format or usability of this page to lwvc@vcwatts.org